Rohtak boy Punit Renjen tipped to be Deloitte CEO
If Renjen is named CEO, he will join a growing rank of Indians who head global corporations, including PepsiCo’s Indra Nooyi and Microsoft’s Satya Nadella.
New Delhi: India-born Punit Renjen is tipped to become the new global chief executive officer of Deloitte Touche Tohmatsu Ltd, succeeding Barry Salzberg who has held the position from June 2011, becoming the first Indian to head one of the so-called Big Four audit firms.
Salzberg’s term is set to end in June. Renjen, who is currently chairman of the board of Deloitte Llp, has been associated with the firm for more than 27 years. He is credited with spearheading the company’s strategy and brand positioning and has closely worked with large multi-national companies, advising them on mergers and acquisitions, strategy and operations.
Renjen’s appointment is currently being ratified, said a person familiar with the matter who spoke on condition of anonymity.
Deloitte is looking to aggressively expand its business in emerging markets such as India, South America and Africa.
Deloitte’s revenue grew 6.5% to $34.2 billion in the financial year ended 31 May, led by double-digit increase in consulting revenue. The Indian arm of Deloitte has been one of the fastest in growth, posting a double-digit increase in revenue in the last financial year.
Deloitte’s global network comprises 47 member-firms operating in 150 countries, with some 200,000 people worldwide.
Renjen did not respond to an email seeking comment.
Prior to becoming chairman of Deloitte Llp, Renjen was the chairman and CEO of Deloitte Consulting Llp, where he is credited with growing the consulting practice despite recession.
He was named one of Consulting magazine’s “Top 25 Most Influential Consultants” in 2007.
An alumnus of Lawrence School, Sanawar, Himachal Pradesh, Renjen, who hails from Rohtak in Haryana, moved to the US to pursue a degree in management from Willamette University.
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